Business Directories

Darkom, Capital Bank in housing finance deal

Amman, May 20, 2008

Darkom has signed an agreement with Capital Bank to facilitate housing loan finance to bank clients and all segments of society.

The agreement was signed by Darkom general manager Waseem Zurub and Capital Bank general manager Haitham Qumhieh in the presence of both companies’ chairmen Dr. Fayez Tarawneh and Dr Ziad Fariz, according to a statement.

Darkom will provide Capital Bank with unique housing loan insurance products that will allow the latter to offer Jordanians of all income levels the opportunity to apply for higher-lending-ratio housing loans that are paid out in longer repayment periods and with competitive interest rates, resulting in a lowered monthly payment and an increased accessibility to home ownership.

“We are thrilled to sign this important agreement with Capital Bank, which serves to assist Jordanians in their quest of owning a home. We are extremely confident this collaboration will strengthen Jordan’s real-estate sector by enabling increased individual investment.” He added: “We deem Capital Bank’s partnership to be a testament to our products’ strength and together we are looking forwarding to seeing the positive results,” said Dr Tarawneh.

“The bank’s management is pleased to have formed such a mutually beneficial partnership with Darkom. We believe this step will pave the way for further investment in the housing finance system and, in turn, will ultimately lead to enhancing our national economy,” said Dr Fareez.

“The boom we are witnessing in Jordan’s financial and other investment sectors compels us to consistently develop our services by devising effective policies and forming strategic partnerships—such as that with Darkom—to strengthen our role in enhancing the Jordanian banking sector and the national economy under the leadership of His Majesty King Abdullah II,” he said. – TradeArabia News Service